Assessing inflation targeting after a decade of world experience

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dc.contributor.authorCorbo, V
dc.contributor.authorLanderretche, O
dc.contributor.authorSchmidt Hebbel, K
dc.date.accessioned2024-01-10T12:37:40Z
dc.date.available2024-01-10T12:37:40Z
dc.date.issued2001
dc.description.abstractTen years of inflation targeting worldwide provide valuable lessons. Inflation targeters (ITers) have been very successful in meeting their inflation targets (ITs). Industrial output sacrifice during inflation stabilization and industrial output volatility has frequently been lowered after IT adoption. ITers have consistently reduced inflation forecast errors after IT adoption. The influence of price and output shocks on the behaviour of inflation and output gaps has changed much more strongly among ITers than in non-targeting industrial countries in the course of the 1990s. IT has played a role in strengthening the effect of forward-loo king expectations on inflation, hence weakening the weight of past inflation inertia. Central bankers' aversion to inflation is, on average, not different among ITers in comparison to NITers but has risen in emerging-country ITers. ITers have gradually reaped a credibility gain, allowing them to achieve their targets with smaller changes in interest rates in the late 1990s than the changes that were required in the early 1990s. Copyright (C) 2001 John Wiley & Sons, Ltd.
dc.fechaingreso.objetodigital05-04-2024
dc.format.extent26 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1002/ijfe.165
dc.identifier.issn1076-9307
dc.identifier.urihttps://doi.org/10.1002/ijfe.165
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/76899
dc.identifier.wosidWOS:000172519100006
dc.information.autorucInstituto de Economía;Corbo V;S/I;98973
dc.information.autorucInstituto de Economía;Schmidt-Hebbel K;S/I;99699
dc.issue.numero4
dc.language.isoen
dc.nota.accesoContenido parcial
dc.pagina.final368
dc.pagina.inicio343
dc.publisherJOHN WILEY & SONS LTD
dc.revistaINTERNATIONAL JOURNAL OF FINANCE & ECONOMICS
dc.rightsacceso restringido
dc.subjectinflation targeting
dc.subjectmonetary policy
dc.subjectLatin America
dc.subject.ods08 Decent Work and Economic Growth
dc.subject.odspa08 Trabajo decente y crecimiento económico
dc.titleAssessing inflation targeting after a decade of world experience
dc.typeartículo
dc.volumen6
sipa.codpersvinculados98973
sipa.codpersvinculados99699
sipa.indexWOS
sipa.trazabilidadCarga SIPA;09-01-2024
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